A few days ago I finished the book Unshakeable by Tony Robbins. It was a pretty good book. I would recommend it to people who are serious about upping their financial game, or people that are just beginning their investing life.
Right off the bat, I’ll tell you that this book can be very valuable to the person that is just starting out in their investing career. Robbins nails all of the basics, and then gives you some more tidbits that most people wouldn't know.
I am still young in my investing career, so I learned a lot from this book. One of the first things that I highlighted was on page 5, it stated, “If you’re not confused, you don’t understand what’s going on.” This perfectly sums up the world of investing. It’s a confusing world out there. There is so much to learn that it kind of scares you. It’s easy to get overwhelmed because there are so many investment options out there.
Even the best investors in the world get confused sometimes. For instance, sometimes the Warren Buffett’s of the world don’t know why a company is tanking. The majority of these big-time investors didn't see the recession of 2008 coming. You’re not alone. You don’t have to be right 100% of the time. Be right 50% of the time and you will be successful in investing.
Another line from this book that I think you can agree with is this, “When people are forced to make financial decisions, they often act out of fear — and any decision made in a state of fear is likely to be wrong.” Everyone has made a decision based out of fear. When it comes to investing, this will not usually work out in your favor. Let’s go back to the Great Recession again. People were making decisions out of pure fear. The majority of people sold their stocks when in reality it would’ve been wise to hold on to them or buy more stocks.
Throughout the course of this book, Robbins uses the worlds best investors to get his points across. Such as Warren Buffett, Ray Dalio, Jack Bogle, and Peter Mallouk for starters.
He tries to relate these people to the reader because these goliaths of investors started where you are. They didn’t have all the knowledge they have now, they put the time in and got to where they are today.